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“Atlanta remains an economic powerhouse as companies flock to the area for its low cost of doing business and proximity to an exceptional talent pool of highly skilled workers created by local universities and a strong workforce,” Madison Marquette states in its report.
Colliers states in its report that Class A vacancy in the suburbs also remained flat at 22.0%. However, when considering high quality, trophy assets in the suburban office market, vacancy was considerably lower at 16.5%, dropping 150 basis points from the same time period two years earlier.
Lockheed Martin had announced last month its intention to shutter the Chester County plant by the end of this year and relocate operations to other Lockheed Martin production plants.
CBRE VP Jaspaul Kapoor secured the loans on the properties that were mostly part of a 2017 portfolio purchase for $63 million. OneWall Partners is the largest property owner in East Orange and one of the largest transit-oriented workforce housing owner/operators in northern New Jersey.
The proposed Barclay Street housing development, the first project announced under the partnership program, involves the construction of a multi-story building, in an Opportunity Zone, to house one- to three-bedroom apartments affordable to families, potentially including hospital employees.
The undeveloped property at the northeast corner of South Lakewood Drive and Brandon Parkway will have 600 multifamily units and 75,000 square feet of mixed-use buildings and stores on 55 acres, which is one of the largest remaining undeveloped parcels in Brandon.
The construction loan was originated by Madison Realty Capital of New York City and will be utilized to complete The Residences at Mandarin Oriental, Boca Raton, the third and final tower of Via Mizner, a 2-million-square-foot urban resort.
RUTHERFORD, NJ—Commercial brokerage firm Savills reports it has launched a new specialization that will be focused on property disposition services.The…